In my continuing studies and ongoing research into the country I’m calling home, if only briefly. I may occasionally add or adjust information. I have done some further digging into the country’s economic state and wanted to share some things I’ve found. In an effort after the war to unify the country under communism, an isolationist approach developed. Only doing business with other communist countries. The administration that came to power out of the countries’ unification was more efficient at the gears of war than effectively governing its people.
For almost two decades, inflation was left unchecked, and incompetence and corruption were rampant. This left the economy reeling well into the 80s. It had maintained its status as one of the poorest countries in the world for decades. Then, In 1986, Lê Duẩn, the General Secretary who rose to power following Ho Chi Minh, died. This caused a massive shift in internal policy. The new reformist government enacted a new approach called Dối Mới. Literally meaning “renovation”. It aimed to strengthen the socialist aspect of the government through economic growth. It eased its grip on foreign trade and formed a market-driven economy. Given the changes in the Vietnamese economy since, it has been an enormous success.
I find it interesting that the collapse of the Soviet Union and reformations in the societies of places like China and Vietnam coincided with the information revolution. With information literally floating in the air for anyone to harness, its consumption and distribution are difficult to thwart. The youth here in Vietnam can punch any question into Google just like we can. Vietnam is embracing it rather than dealing with the headache of trying to regulate information like in famished-stricken North Korea. The government is building the infrastructure for and subsidizing the Internet. It’s a modern system, and it’s everywhere. Even in the small jungle village I’m staying in in the backwaters of the countryside, WiFi is readily available.
Whatever they are doing, it’s working. Since the early ’90s, the nation’s GDP has grown by an average of 6.4% annually. In 1993, the number of people living below the poverty line was 60%. 4 years ago, it had dropped to 13.5%. Through reform and competent management, it has somehow found itself rising to stand on its own, even with the loss of its subsidies from the collapse of the Soviet Union. It isn’t perfect, no system is, and there are still signs of governmental control. For example, using American nicknames even in English class has been outlawed in the Ho Chi Minh City school district.
English has become mandatory over the past decade, and I’ve found communicating with small children here more accessible than with adults. English is the international language of business, and the government knows that. Yet, it is also concerned about the youth of Vietnam having their national identity diluted and washed away as they begin to learn how to navigate the global market. It’s a fascinating duality in everyday life here, with deep-rooted millennia-old traditions colliding with unstoppable modernization and progress. Vietnam has been challenged to negotiate its entrance into the Western-dominated world markets while preserving its national identity and fabled past. For the most part, It is a great success story in this modern age. One the rest of the world just might learn something from.
